In re the Second Intermediate Accounting of Baekeland

In this proceeding for the settlement of an account of the trustees under a trust indenture, the petitioning trustees ask for the construction of an article of the indenture directing the payment of income to the grantor’s daughter, a secondary life beneficiary of one half of the trust. In addition, the guardian ad litem for infant remaindermen has filed objections to the account in which he challenges the charge against principal of income tases paid by the trustees on capital gains realized by them on the sale of a large number of shares of a given corporation which constituted the main…